Fatih Birol


Last quote by Fatih Birol

We are witnessing the start of a second wave of U.S. supply growth, and its size will depend on where prices go. But this is no time for complacency. We don't see a peak in oil demand any time soon. And unless investments globally rebound sharply, a new period of price volatility looms on the horizon.
Mar 06 2017 Oil
Fatih Birol has been quoted 29 times. The one recent article where Fatih Birol has been quoted is Oil prices set to slip as US shale gets ready to pump, IEA director says. Most recently, Fatih Birol was quoted as having said, “As a result of the increase in prices. We are going to see a substantial amount of oil pouring into the market from the United States.”.
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Fatih Birol quotes

We see clear winners for the next 25 years – natural gas but especially wind and solar – replacing the champion of the previous 25 years, coal.

Limiting carbon emissions and changing our energy systems is a monumental challenge. But the IEA is working with governments around the world to help identify solutions and show how it can be done.

We just told the entire world last week that the renewable electricity capacity now took over coal and became the number one source of electricity capacity in the world.

Even these higher expectations remain modest compared with the huge untapped potential of renewables.

When you look at the consumption side, it is very important to see what kind of impact the fuel economy measures, energy efficiency measures, affect the demand and supply.

One of the major reasons… is because cars are becoming much more efficient than in the past: for... 100 kilometers, they use less oil and they are much more efficient now, compared to a few years ago.

And it will be even more so in the next years to come because there are many countries growing, such as India, such as (countries in) South East Asia, they have not yet set the fuel economy standards, efficiency standards.

We have seen two years in a row in 2015 and 2016 oil investments declining. This would mean oil security and oil markets may face a challenge as a result of a huge drop in the investments in a very few years in the medium term.

We may be on a higher side compared to others (forecasts), this is mainly because we're more upbeat when it comes to Europe and emerging Asia demand in demand growth.

Several years ago renewables were considered to be a romantic story but now it's becoming a business. A lot of gas is coming to markets ... and this creates a historic opportunity to push for flexibility in gas contracts, especially destination clauses.

Oversupply of oil markets will gradually be eased and (oil markets) will find a balance between supply and demand in 2017.

This is completely peanuts. With a seven percent increase you can save over three million lives.

It was misleading to believe that there would be a huge amount of new Iranian crude and natural gas production entering the market in the short term.

The new figures confirm last year's surprising but welcome news: we now have seen two straight years of greenhouse gas emissions decoupling from economic growth. Coming just a few months after the landmark (climate) agreement in Paris, this is yet another boost to the global fight against climate change.

What we would like to see is, after a big decline in 2015 and 2016, there will be a rebound in investments (in 2017), and bringing (investments) to the level of $600 billion once again.

Giving the wrong signal to Middle East producers may well delay investment. If we want Middle East oil in 2020, the investments need to be made by now.

Due to the limited resource base (of US shale oil), it is going to plateau and decline. After 2020 there will be a major dominance of Middle East oil.

Saudi Arabia has made substantial efforts to calm down the oil markets by increasing production and slowing prices from going higher.

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